Filing Flows › Global Partners LP (GLP) › Q1 2025
Global Partners LP (GLP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Global Partners LP (GLP) reported revenue of $4.6B for the first quarter 2025 (Q1 2025), +11% from a year earlier and +10% from the quarter before. Operating margin was 1.2%, net earnings $18.7M (0.4% of revenue).
Global Partners LP, Q1 2025: revenue $4.6B (+11% year over year), operating margin 1.2%, net earnings $18.7M, operating cash flow −$51.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +10% | +11% |
| Gross profit | $255M | -5% | +19% |
| Operating profit | $55.9M | -4% | +116% |
| Net earnings | $18.7M | -22% | — |
| Operating cash flow | −$51.6M | — | — |
What changed
Revenue was $4.6B in Q1 2025, up 11% year over year and up 10% from the previous quarter. Wholesale segment was the largest line at 69% of revenue. Wholesale segment added $0.55B year over year (up 21%), 123% of the total change. GDSO declined 8%.
Gross margin was 5.6%, up 0.4 points from a year earlier. Operating profit was $0.06B, a 1.2% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, above the 1% margin then. Operating expenses grew 5% against revenue growth of 11%. Net earnings were $0.02B. The effective tax rate was 6.2%.
Operating cash flow was −$0.05B. Non-cash charges added back $3.5M of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.07B.
Questions
What was Global Partners LP's revenue in the first quarter 2025?
Global Partners LP (GLP) reported revenue of $4.6B for the first quarter 2025 (Q1 2025), +11% from a year earlier and +10% from the quarter before.
Was Global Partners LP profitable in the first quarter 2025?
Operating profit was $55.9M (1.2% of revenue) and net earnings $18.7M.
Source: Global Partners LP 10-Q on SEC EDGAR.